Paris: Developing countries could face a bill of USD 790 billion per year by 2050 for adapting to climate change, anti-poverty agency Oxfam said today.
Carbon-curbing pledges which form the cornerstone of a climate rescue pact to be sealed at a UN summit opening in Paris next week are insufficient, it said in a report.

Current commitments from some 170 nations put the world on track to warm by three degrees Celsius over mid-19th century levels -- a full 1 C higher than the United Nations target.

Unless much more is done, developing nations will end up spending about 50 percent more on climate adaptation by mid-century than they would under a 2 C scenario, the report said.

"World leaders need to step up. We need further cuts to emissions and more climate funding," Oxfam Executive Director Winnie Byanyima said in a statement.

"The human cost of climate change must be central to discussions in Paris so we get a better climate deal for poor people," she said.